Cash Management Account

Key features of PCMA that will assist clients to manage your trades and settlements are as follows,

For easy settlement of purchases, you may make pre-payments into the trading account at anytime. The PCMA will be able to accept placement of funds through funds transfers via internet banking, Electronic payments for shares (EPS) or Telegraphic Transfers (TT).

Withdrawal of Funds
Account holders can request to withdraw excess cash from their trading account either by submitting the online withdrawal form or contact the authorized Trading/Financial Advisory Representatives to perform the withdrawal on his behalf. All instructions must be submitted before 10am of each business day. Account holders can choose to have the funds credited directly to their bank account or collect it in a form of a cheque.  For security reasons, crossed cheques will only be issued in the account holder’s name. No cash withdrawals are allowed.

The following are specific to equity trading only.
Settlement of Purchase Contracts
Purchase Contracts will be settled on the Contract Due Date plus 1 working day (D+1) through the deduction of the balance in the trading account. There will be no partial settlement. Clients just need to transfer more funds into the account if there is insufficient money in the trading account.

Settlement of Sale Contracts
Settlement of Sale Contracts will be performed on Contract Due Date + 1 day (D+1), and the sale proceeds will be credited to the PCMA upon delivery of the shares. The amount will be credited into the trading account which can be used for further purchases.

Settlement of Contra Gains/Losses
You can perform contra trading of shares through this trading account. If you perform a sell trade during contra period, contra will automatically be done on a first-in-first out principle.

Contra gains will be credited to the account on contra note date + 1 day. Contra losses will be debited from the account on contra note date + 1 day if you maintain sufficient funds.

Custody of Shares
For all SGX listed securities traded through PCMA, the Central Depository Pte Ltd (“the CDP”) will be the share depository. Shares purchased will be deposited in the account holder’s Global Securities Account (GSA) with the CDP, corporate actions will also be handled by them.

Foreign equities traded or transferred into this trading account will be held in custody with Phillip Securities Pte Ltd on terms as set out in the Conditions Governing Phillip Securities Trading Accounts (Terms and Conditions). Corporate actions will also be handled by Phillip Securities Pte Ltd.

Multi-currency Facility
As an added advantage, you also have the option of maintaining foreign currency balances in your account for ease of trading and efficient management of your foreign currency-denominated investments. Settlement for trades can either be in the traded currency or in SGD.

With Multi-Currency facility clients can:
1. Choose to maintain foreign currencies in the trading account.
2. Convert the money in the trading account into different currencies for settlement of their trades with the purpose of mitigating foreign currency risk.
3. Withdraw foreign currencies with no minimum holding amount required to be maintained in the account.

Sufficient funds must be maintained in the settlement currency to avoid incurring interests on debit balances. Please refer to our Infosheet on the applicable debit interest rates.

Auto-conversion of Debit Balance will take place in the event the ledger runs into a deficit, which may arise from certain transactions carried out on that day.

Auto adjustment of trading Limit facility
Trade up to the amount placed in the trading account. The trading limit will be the trading account assigned limit or the amount placed in the trading account, whichever is higher. All you need to do is to transfer money into the account and you are ready to trade!

This auto adjustment of trading limit facility also applies to clients who opt for Excess Fund Management facility.

Monthly Statements
There are 2 types of statements sent to you:

  1. Statement reflecting monthly transaction movements and balance in the trading account
  2. Statement of transaction for equity trading (if there are any trades done)

If there is no transaction done in the trading account, a quarterly statement will be issued instead.

You may also view your current and previous month’s transaction history and account details up to 12 months year-to-date through POEMS.

Enroll in eStatements today to enjoy greater convenience of viewing your statements on the go and save the environment! Click here to find out more.

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This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.  

Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.  


Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
Tel: (65) 6230 8133 Fax: (65) 65383066